Universal account number is a 12 digit number which is allotted to every employee individually by the employers. UAN number is attached to the identity of an employee and is a single account that is responsible for controlling the member ids of the employees. When an employee goes for a new job or changes the job, his new Id is attached to his UAN account.
The UAN number is given to each Employee Provident Fund member by an organization known as EPFO. Universal account number has eased many of our problems. It has made easier for the employees to know their current status, the balance of their account, as well as making EPF withdrawal. A UAN number is a must for EPF withdrawal. To avail this facility, you need to get yourself registered. UAN number is not only handy, but it has also saved a lot of our time.
Now the employee is not involved in Withdrawals; Any EPF withdrawal has to be signed by your previous employer and then sent to EPFO. Now there is no need to make transfer requests. As soon as your employer verifies your KYC details, the money that is kept in your previous account is automatically transferred his new account.
A UAN number represents an employee’s identity. However, there is no compulsion that you must be an employer or an employee to get a UAN number. Unemployed workers and students can also get their UAN numbers by getting themselves registered. Therefore, it will be convenient for them when they will get their jobs in future.
You immediately get SMS alerts as soon as your employer contributes to your EPF account. Same as you get SMS alerts whenever your bank account is credited or debited. By having a UAN number, you will also be able to get a better pension in your future, as transferring money instead of withdrawing will result in better pension money when you require it most.
Some important points that you must keep in mind before you get yourself a UAN number:
One employee will get only get one universal account number
- You will have same UAN in different jobs within the country. If you get another job that doesn’t mean that you will have to get a new UAN number. It will still stay the same. The new job does not mean your UAN number will also have to be new.
- Change jobs as much as you want; the EPF will be with you. The job might be new, but the UAN will remain with yo
- This number would be attached to your identity. You’ll be having the same UAN number just as accessing multiple bank accounts by having one simple account. This is the best facility provided by EPFO so far.
- The KYC documents are used for authentication of the universal account number.
- The EPFO portal issues the UAN. The Employers will let the employees know the UAN number.
- With the help of UAN, you can easily view and download EPF account transaction online at UAN portal, once you have successfully activated your UAN. You can also download and print EPF e-passbook very easily.